People
Apple recalls plug adapters: over risk of electric shock
Apple announced a recall of wall plug adapters warning the risk of electric shock. The recall applied to those adaptors used in Australia, New Zealand, Continental Europe, Korea, Argentina and Brazil.
Gasoline smuggling dents export revenues for Venezuela
South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.
Foreign investors bail on Russian stocks
Global investors are withdrawing from Russian stock markets as volatility is high in equities and currency Ruble. The continuous drop in oil price is impacting the Russian economy much as it's the main revenue source for the country. The gap between onshore and offshore traded equities is narrowing down as foreign investors are selling off.
Philippine Q4 GDP rise by 6.3%
Philippine's fourth quarter gross domestic product increased by 6.3% driven mainly by higher private consumption, government expenditure as well as an increase in economic activity.